More than 32m Americans already use cannabis. As the business becomes more normalised, it is sure to attract new customers. “It’s not often that you see an industry and you know the inevitability of it,” says Brendan Kennedy of Privateer Holdings, a private-equity firm that specialises in cannabis.

“I think people will derive more benefit if they can speak more openly with providers about whether they are using cannabis and why,” says Walsh. Walsh is a lead investigator on a clinical trial of cannabis that is being funded by a medical cannabis producer called Tilray.

Clearly good beauty runs in the family, as all of the treatments (as well as the in-room amenities) come from Marley Natural, a hemp-seed-oil-based apothecary line started up in partnership with the Marley family that features botanicals and essential oils native to Jamaica. A portion of the proceeds from the range also goes toward Rise Up, a nonprofit that supports Jamaican culture and sustainability, among other community-oriented initiatives.

Brendan Kennedy, the cofounder of Privateer Holdings, which owns various marijuana companies like Marley Natural and Canadian pharmaceutical-grade cannabis producer Tilray, explains how Tilray is already exporting marijuana to countries like Croatia and Australia for use in clinical trials.

Brendan Kennedy, CEO of Privateer Holdings, a Seattle-based private-equity firm that has several cannabis companies, said he sees opportunities for Canadian firms to license their brand to local American producers. He added that Tilray, a Nanaimo, B.C.-based medical grower owned by Privateer, will continue to pursue export and partnership opportunities in Australia and European countries, where medical marijuana is closer to becoming legalized nationally.

As legalization takes hold south of the border, Canadian companies have a massive opportunity to export their knowledge — if not their product — to the U.S., said Brendan Kennedy, CEO of Privateer Holdings, which holds a portfolio of marijuana-related companies including Vancouver Island-based Tilray.

Canada’s marijuana industry could benefit after at least six states representing twice the population of Canada voted in favour of legalizing the drug, either recreationally or medically. “I think you’ll see Canadian companies jump at the opportunity to expand their operations and brands into the United States,” says Brendan Kennedy, whose firm owns Nanaimo, B.C.-based licensed producer Tilray.

Brendan Kennedy, co-founder and CEO of cannabis company Privateer Holdings: Kennedy’s firm Privateer was the industry’s first to raise more than $100 million in total financing. Now, he told Fortune, he’s seeing an explosion of interest.

“We never imagined the velocity with which this industry and the political landscape would change,” said Privateer CEO Kennedy, whose firm markets the Marley Natural brand of cannabis products in California, Oregon and soon in Washington. Privateer also owns Leafly, a marijuana information and news service.

Privateer’s portfolio “includes Leafly, a leading cannabis information platform, Marley Naturals, a product company branded under license from Bob Marley’s estate, and Tilray, a leading cultivation company."

Individual angel investors and family funds are already cutting million-dollar checks to firms like Privateer Holdings, a private equity outfit that specializes in the space. CEO Brendan Kennedy says that California is one of “three big milestones” he has been anticipating, along with Canada looking to legalize recreational marijuana next year and Germany planning to legalize medical.

“We at Privateer decided that we were going to use the C word six years ago. And we’ve stuck to it,” explains Privateer Holdings CEO Brendan Kennedy in the new CBSN Originals documentary, “Big Pot: The Commercial Takeover."

“People can already grow cannabis and people are already willing to buy it,” says Kennedy. “All we’re seeing is a transition from $200 billion worth of illicit purchases to $200 billion worth of fully legal purchases. And there are a number of public companies that will be created in the middle of that transition."

Several marijuana investment funds are near or have exceeded $100 million. Private equity firm Privateer Holdings announced this week it had finished raising $40 million this week, taking its total to $122 million.

“I tell our employees every day that this is day one,” said Privateer Holdings CEO Brendan Kennedy. “While the last six years have been fascinating and the pace of change has been faster than even we ever imagined, the next 10 years are going to move even more quickly.”